A growing trend among America’s largest corporations reveals a shift in how diversity, equity, and inclusion (DEI) metrics influence executive compensation. According to a review of approximately 1,200 companies by Farient Advisors, the proportion of corporations using DEI metrics to set compensation has decreased from 33% to 28% in 2023. High-profile companies like Best Buy Co., Johnson & Johnson (J&J), and Lazard Inc. are among those that have de-emphasized or removed DEI from their executive pay criteria. Conservative Pressure and Corporate Response This shift is partly attributed to conservative activists
Black executives believe that their companies have maintained a strong commitment to Diversity, Equity, and Inclusion (DEI) despite anti-DEI pressure, a survey by The Executive Leadership Council (ELC) has found. The ELC, which aims to increase Black representation in C-Suites and corporate boards, surveyed 180 top Black executives across various sectors. The results showed a strong and resilient commitment among Black executives to DEI in corporate America. DEI Is Linked To Job Satisfaction Despite today’s landscape with anti-DEI, nearly 3 in 4 (72%) Black executives feel their companies’ commitment to
Diversity, equity, and inclusion (DE&I) within the tech industry over the past five years has seen a decline, a new report from Tech Talent Charter (TTC) highlights. The UK not-for-profit’s 2023 annual benchmarking report points to carelessness, budget cuts, and a shift in priorities as factors threatening to reverse progress. Concerning Changes And Leadership Buy-In The TTC report warns of “concerning changes” across the tech landscape, citing a lack of leadership commitment and a risk of DE&I initiatives becoming performative rather than intentional. It emphasizes the importance of genuine efforts
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Nearly 9 in 10 (87%) firms in the UK now prioritize Diversity, Equity, and Inclusion (DEI), a new report claims, with AI tools playing a significant role in this transformation. The findings come from a recent Workday survey, Global Blueprint for Belonging and Diversity, with views from CEOs and leaders in HR, IT, and finance. Can AI Support DEI Programs? The report found that overall, having the right technology stack is essential and can be critical in enabling DEI. In particular, it was found that there is a significant correlation between AI adoption and effective
A federal judge has ordered the Minority Business Development Agency (MBDA) to extend its services to all racial and ethnic groups, not just minorities. Judge Mark T. Pittman of the U.S. District Court for the Northern District of Texas made this landmark decision. MBDA: What Has Happened? Founded during the Nixon administration, the MBDA’s primary mission has been to assist minority-owned businesses. However, Judge Pittman’s ruling challenges this focus, stating that the presumption that white business owners are not disadvantaged violates the 14th Amendment’s guarantee of equal protection under the law. As
Goldman Sachs, Bank of America, and JP Morgan are among the Wall Street giants that have modified their diversity, equity, and inclusion (DEI) initiatives. As DEI faces scrutiny and right-wing backlash, with accusations of reverse discrimination, companies are cautiously navigating the landscape to avoid potential legal pitfalls. Changes To DEI Programs Goldman Sachs Group Inc. has changed its “Possibilities Summit” from exclusively being for Black college students to opening the program to white students. According to Bloomberg, lawyers have also advised senior executives to remove references to race and gender
The Congressional Black Caucus (CBC) is leading a significant initiative to ensure diversity, equity, and inclusion (DEI) remain central as AI technology evolves. CBC Chairman Steven Horsford, D-Nev., and Rep. Yvette Clarke, D-N.Y., announced the launch of an artificial intelligence policy series in a recent virtual press conference. The AI Policy Series The series aims to shield Black Americans from potential injustices arising from AI systems. Recognizing the influence of AI technologies, Horsford emphasized Congress’ responsibility to lead the way in understanding and shaping trends that profoundly affect their constituents’ lives and livelihoods. Clarke told reporters, “True innovation
Employees globally are voicing a need for more diverse and equitable workplaces despite the recent backlash against DEI initiatives, a survey has found. The How to Talk About Diversity With Employees to Achieve Your Company’s Objectives survey by Catalyst had over 6000 employees across 11 countries reveal their thoughts. A Call For Vocal DEI Efforts The survey revealed that 9 in 10 (93%) employees believe it’s crucial for organizations to be vocal about their DEI efforts. Additionally, 3 in 4 (76%) of the respondents claimed that organizations should actively strive
MeVitae, a UK-based Diversity, Equity, and Inclusion (DEI) startup, has successfully secured a $1.8 million (€1.7 million) seed round spearheaded by Apex Black. MeVitae Founded by Oxford University alumni, Neuroscientist Riham Satti and Computer Scientist Vivek Doraiswamy, MeVitae specializes in offering a comprehensive DEI ecosystem of HR tools. These tools, developed from a blend of AI ethics and neuroscience perspectives, are designed to detect and mitigate biases, to enhance smarter, faster, and fairer hiring decisions. “Growing up, I never considered that my gender or skin color might impede opportunities. It
